DATA DRAFT

Some states catch the biggest fish

It’s no secret that states are offering tax incentives to large corporations to entice them to relocate their businesses. Tesla received $1.3 billion in incentives last year from Nevada to build the world’s largest lithium-ion battery plant. According to a survey from Bloomberg BNA, 84 PERCENT of the large corporations it interviewed have been offered incentives by a state or local official for a new development or relocation. In its study, Bloomberg BNA discovered:

>> The most competitive states have the best corporate income tax and overall tax structures, as well as the best approach to tax incentives. Texas, Nevada and Florida are the most successful in luring businesses to their states, while California, New York and

Illinois are the least competitive.

>> When a company is being lured, their home states may not be doing enough to keep them. Only 33 PERCENT of respondents said their current state offered incentives for them to remain.

>> Corporations are actively trying to change policies at the state level. 56 PERCENT lobby state representatives to change tax policies. And among companies with more than $10 billion in revenue, that number jumps to 81 PERCENT.

Read the full report from Bloomberg BNA at tinyurl.com/Bloomberg-Report. n

The state of Americans’ finances

How confident are Americans in their finances? Are they satisfied? Prepared? Actually, it depends.

>> HAPPINESS IS HIGH: The second quarter Personal Financial

Satisfaction Index (PSFi) from the American Institute of CPAs (AICPA) found that Americans are the most happy with their finances since before the recession in 2007. Gains are attributed to increased job openings, rising home values and decreased loan delinquencies.

>> PREPAREDNESS IS LOW: Nearly a third of all Americans have no emergency savings, according to Bankrate.com, the highest number since the site started tracking it in 2010.

Bankrate attributes the lack to a lag in income growth. And the U.S. Federal Reserve reports that almost a third of working adults have no retirement savings or pension. These workers, therefore, have no intention to retire or plan on working as long as possible.

>> DECISIONS ARE DELAYED: The majority of American adults (51 percent) have delayed a major life decision in the past year, such as getting married or retiring, due to financial reasons. A survey from the AICPA found this is an increase of 20 percentage points since the last time a similar survey was conducted in 2007.

The bottom line? Americans may not be making life decisions, nor are they well-prepared for the future. But hey, they’re happy! n

>> BY THE NUMBERS

6.6 million

The number of taxpayers who paid a penalty last tax season for not having health insurance under the Patient Protection and Affordable Care Act. While that was 10 percent more than originally estimated by the U.S. Treasury Department, approximately 300,000 people overpaid the penalty. The average penalty was $190. n